By Sheri Kasprzak
New York, Aug. 25 - Hansa Corp. has upsized to C$2.25 million its previously announced C$1.8 million private placement.
The non-brokered offering now includes up to 1.5 million units at C$1.50 each.
The units are comprised of 10 shares and five warrants with each warrant exercisable at C$0.50 for two years.
The issue priced on June 28 as a C$1.8 million offering of 1.2 million units.
The deal is being conducted as part of Hansa's acquisition of Minera Azteca de Oro y Plata SA de CV.
Under the terms of the reverse takeover, Hansa will issue 30.5 million shares and two-year warrants for up to 7.5 million additional shares, exercisable at C$0.50 each, at a price of C$0.15 each in exchange for all of Minera's outstanding stock.
The new company will be called Azteca Gold Corp.
Calgary, Alta.-based Hansa is a mineral exploration company.
Issuer: | Hansa Corp.
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Issue: | Units of 10 shares and five warrants
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Amount: | C$2.25 million
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Units: | 1.5 million
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Price: | C$1.50
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Warrants: | Five warrants per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.50
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Placement agent: | Non-brokered
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Pricing date: | June 28
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Upsized: | Aug. 25
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Stock symbol: | TSX Venture: HSA
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Stock price: | C$0.23 at close June 28
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Stock price: | C$0.23 at close Aug. 25
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